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Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
 

FDIC Insurance Increase Extended
Customers will continue to enjoy $250,000 limit

In November 2010, the FDIC permanently raised its deposit insurance limit from $100,000 to $250,000 per depositer. The increase means Citizens Commerce customers can deposit more money under the protection of FDIC insurance.

Click here to learn more about FDIC Insurance.

For more information about FDIC insurance coverage, please visit: www.fdic.gov